Here’s proof of an increasingly spend-ready Asian consumer — Taiwanese consumer confidence just hit a 51-month high according to a survey by the National Central University (NCU). In addition, most people think it’s a great time to buy stocks. Ruh-roh.
China Post: People seemed to be especially rosy about the trading of stocks, as the category, “likelihood to buy stocks over the next six months,” scored 99.4, the second highest figure to date, NCU said. The highest score received for the category was 99.7 in December 2001, NCU said.
The report also showed how Taiwanese are looking to buy long-term goods:
People expressed their confidence for the various categories in the survey, Hsu said. Hsu cited as an example the category titled “likelihood to buy durable goods over the next six months,” which received a score of 101, a rise of 9.45 from January. This was the first time the category received a score over 100 since July 2008, Hsu said. A score between 100 and 200 means people are becoming more optimistic.
It certainly helps when your GDP just surged at an annualized 9.2% rate in the fourth quarter, yet it’s just more evidence that the world won’t be as dependent on the U.S. consumer as it used to be. Stuck in the U.S. and hating the dollar-depreciating actions of the government? Then start exporting to emerging markets because they are the new top consumer:
(Chart via the WSJ)
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